sos that over $2 trillion in deficit reduction in two years. it doesn't get us all of the way there but largely, two thirds of the way there at least within a ten-year budget window. >> russ, what do you think? of course we are approaching this with caution. we know that there's going to be more back and forth. but in the middle of it all, we've got earnings season. and you know, already some people are saying that this anticipation of all of these cliffs, cliff after cliff, has already impacted the earnings period. what are you looking at, what are you seeing from the fourth quarter reporting season so far? it's been a big week obviously this week for financials. >> we're seeing decent performance. again, i think compliments to corporate america because they been able to grind out strong earnings growth with a relatively weak recovery. and margins remain much higher than people thought and this has helped. we are seeing recovery in the rest of the world, and that has helped. it's going to be a decent year. i don't think the problem is the traj